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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question No 13 Chapter No 18
13. From the following information, prepare Profit and Loss Account for the year ended 31st March, 2018:
| Gross Profit | 1,20,000 | Discount Received | 6,000 |
| Rent | 5,000 | Printing and Stationery | 4,000 |
| Salary | 35,000 | Legal Charges | 10,000 |
| Commission Paid | 19,000 | Bad Debts | 2,000 |
| Interest on Loan | 5,000 | Loss by Fire | 6,000 |
| Advertisement | 8,000 | Depreciation | 4,000 |
| Interest Received | 8,000 |
The solution of Question No 13 Chapter No 18:-
Profit and Loss Account for the year ended March 31, 2018
| Particulars |
Amount | Particulars |
Amount | ||
|---|---|---|---|---|---|
| To Rent | 5,000 | By Gross Profit | 1,20,000 | ||
| To Salary | 35,000 | By Interest Received | 8,000 | ||
| To Commission Paid | 19,000 | By Discount Received | 6,000 | ||
| To Interest on Loan | 5,000 | ||||
| To Advertisement | 8,000 | ||||
| To Printing and Stationer | 4,000 | ||||
| To Legal Charges | 10,000 | ||||
| To Bad Debts | 2,000 | ||||
| To Loss by Fire | 6,000 | ||||
| To Depreciation | 4,000 | ||||
| To Net Profit | 36,000 | ||||
| 1,34,000 | 1,34,000 | ||||
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Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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